I do know I have to file a Form 709 to report the gift amount, being the difference of what he paid and the market value. Got that covered. I'm just unsure if I have to report the sale otherwise. I actually asked the question before when inquiring about the gift tax situation, but got conflicting replies. So trying again. Any help would be appreciated, thanks in advance.
if you got a 1099-S you'll need to report it because the IRS will be looking for the proceeds being reported on your return. otherwise, reporting is not required
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